All Forum Posts by: Richard Miller

Thank you guys for the guidance as I start this journey.

Chris - I would love a quick chat for some tips.

Logan - We should connect soon.

Thanks again,

Richard

Little joke there as I do try to avoid the “next shiny thing syndrome” but this perked my interest. So I admittedly have been sitting on the sidelines for about 4 years now. I started with residential-didn’t like the tenant requirements, then looked at multi-family with property manager (currently invested), but I like the sound of the note business but lack the experience which brings me to this post. There appears to be a lot to learn and just as many land mines. So just as before I will start with podcast, BP post and online research. However, a mentor is a must it appears. Currently live just north of Dallas. Advice welcome and thank you in advance for you replies.

So with one passive investment in a multifamily deal I'm looking for guideance before I amp this up in 2020. I plan to do many more but would like to avoid as many taxes legally possable. So looking for someone that can fit as many roles as possible. To do this right you would need a CPA, Tax Attny, Real Estate coach and more. They could help on if LLC is needed, help change funds over to a self-directed IRA for investment purposes etc. So are there any recommendations on someone that can do more than one of these? Any help would be greatly appreciated.

@Kenneth Garrett hey I was also considering purchasing the Michael Blank Mastermind what are your thoughts now that you've had it for a while? Did you finish it has it helped you make any purchases?

I just want to win so I can finally get that Mentor for Multifamily Investing.

@Randy Dickerhoff so I have a similar meeting next week with a seasoned investor who buys multi family and SFR. Could you give me update on your meeting?

Home currently for sale at 180,000 buyer (not me, acquaintance) is first time home buyer and hopes to get FHA for 3.5%. Plans to rent other 3 bedrooms out to college roommates. Needs me for the down payment and closing cost ($10-$12,000 cash). He will provide me guarantee of 30% cash on cash return annually until whenever he sells it in the future.

He thinks he can buy home for $175,000 FYI

So what do you think? What would you change? How can I guarantee I get paid?

Richard

Need an investment in Lubbock Texas for my college student to live in and rent out the other rooms/units.. Any of my BP family have connections or recomendations?

With prices so high and cost to build at or below, this is so tempting. Podcast was great in the sense that he explains the better tax advantages but lower cash flow numbers and still being worth. I would love to hear from those that do this, the good and the bad. To me it comes down to the property being at the right price. I also would never sell but hand down in the family (keeping the large tax advantages in the early years) Great podcast, give it a listen and give me your experiences with this method.

Hey guys also live the Denton County (Aubrey) and would love to meet you guys. I think Max put together a meet up in Flower Mound. I'm also new and looking to invest if the numbers are good. Also considering waiting on a down turn to jump in more aggressively, but in the mean time send me an invite.